Info: Iran has set up the Islamic Regional Cooperation Bank for Development and Investment in Iraq in a bid to provide services for Iranian clients in Iraq, such as preparing a pricing system to provide guarantee services, issuing letters of guarantee, opening accounts and providing banking services;

Iranian Eghtesad Novin Bank has invested $120 million for establishing the Islamic Regional Cooperation Bank for Development and Investment. The Iranian bank shares 68 percent of the joint bank’s capital;

Iraqi officials working under the enhanced information-sharing agreement reported to their U.S. counterparts that three sanctioned Iranian banks – Islamic Regional Cooperation Bank, Bank Melli and Parsian Bank—had obtained at least millions of dollars through the auction. Like other Iranian banks, those were operating under international sanctions, and it was illegal for the Fed to knowingly ship dollars to them;

The bank has 11 branches in Iraq and plans to facilitate moving funds using secure brokerage network, reception of facilities by Iranian and Iraqi companies, opening LC to facilitate trading and providing banking consultations;

Also Known As: Banl-e Taawon Mantagheey-e Eslami Regional Cooperation Of The Islamic Bank For Development & Investment

Many bad things were done to Iran by some really bad people. These criminals will have to be brought to justice.For many generations this country was captive to a corrupt regimes. Iranian people had to find ways to survive ... ReadMore +